Accra, October 31, 2023 – The Ghana National Chamber of Commerce and Industry (GNCCI) held its 47th Annual General Meeting (AGM), bringing together industry leaders, entrepreneurs, and esteemed guests under the theme: “Building Business Confidence in the Midst of Economic Challenges.”
Dr. Clement Osei-Amoako, the President of GNCCI, opened the event with a welcome address, setting the tone for a day of insightful discussions and thoughtful reflections. Special Guest of Honour, Hon. K.T. Hammond, the Minister of Trade and Industry, and Guest Speaker, Dr. Daniel McKorley, Chairman of the McDan Group of Companies, were acknowledged for their vital roles in the proceedings.
Dr. Osei-Amoako lauded the efforts of the Governing Council, National Executives, Committees, and Trade Sectors within the Chamber for their support in ensuring a vibrant Chamber and a resilient private sector in 2022. Throughout the year, the GNCCI organised several impactful events, including workshops, seminars, and trade fairs and exhibition, providing a platform for local businesses to showcase products and address crucial economic issues.
The Chamber’s role in supporting the African Continental Free Trade Area (AfCFTA) was evident through partnerships and training programmes, contributing to the success of this significant trade agreement. Dr. Osei-Amoako, however, acknowledged the economic challenges faced in 2022, citing fiscal slippages, reduced credit to the private sector, and a decline in economic growth. The Chamber urged the government to implement policies supporting investment and private sector growth, emphasising the need for alignment between monetary and fiscal policies.
President Osei-Amoako outlined expectations for the 2024 National Budget, advocating for a review of existing taxes, improved public investment efficiency, tax base widening, and policies stimulating private sector growth. The GNCCI expressed its readiness to collaborate with the government to address critical private-sector issues.
Hon. K.T. Hammond delivered a compelling address, acknowledging global economic challenges and emphasising the need for innovative policy solutions. He highlighted Ghana’s achievements in industrial transformation and encouraged collaboration among African nations within the AfCFTA framework. The minister urged businesses to play a role in making goods and services more affordable while emphasising corporate social responsibility.
Guest Speaker Dr. Daniel McKorley, Chairman of McDan Group, urged businesses to understand their economic landscape for sustainable growth. He highlighted the need for capacity building, collaboration, innovation, and adaptation to change, stressing the importance of forming strategic partnerships with integrity.
The GNCCI will continue to collaborate with local and global partners, anticipating a successful and prosperous future for the Ghanaian private sector. The 47th AGM marked another milestone in shaping Ghana’s business environment, underscoring a dedication to resilience, confidence, and the pursuit of sustainable growth.